EU Lawmaker Panel Shoots Down OTC Derivatives Rules

Law360, San Diego (February 4, 2013, 10:05 PM EST) -- A European Parliament committee on Monday reportedly rejected rules aimed at reining in over-the-counter derivatives trading, a move that could delay Europe’s plans to process most derivatives trades through central clearinghouses.

The Economic and Monetary Affairs Committee voted 24-20 against some of the rules proposed by the European Securities and Markets Authority seeking to place new restrictions on OTC derivatives trading, the Financial Times reported.

Committee members, led by Werner Langen and Kay Swinburne, two prominent financial services lawmakers, raised concerns that the rules were not...
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